Buyer Group International Inc. (OTCMKTS:BYRG) Releases Promising Results of Ground Penetrating Radar Testing at its Shambhala Mining Project
Buyer Group International Inc. (OTCMKTS:BYRG) announced positive results from its recently commissioned Ground Penetrating Radar (GPR) testing at its Shambhala Project, on October 19, 2022. These tests were intended to target the presence of old underground workings of the original New Rambler Mine operation.
Trading Data
On Wednesday, BYRG stock slid 2.04% to $0.0048 with more than 3.78 million shares, compared to its average volume of 3.15 million shares. The stock moved within a range of $0.0044 – 0.0051 after opening trade at $0.0049.
Buyer Group International, Inc. Announces Successful Results from Ground Penetrating Radar Testing at Its Flagship Mining Project “Shambhala”
The New Rambler Mine was developed in the only known important lode deposit in the district. Active mining never commenced at this site due to the fire of 1918, so little information is available in geological literature. Maps and other documents were destroyed in the fire. Two new underground tunnels have been identified and confirmed at a depth of 67 foot level. One runs directly underneath Shambhala #71’s existing tunnel, while the other runs perpendicular in front of it.
The GPR results received and identified by the Buyer Group is a significant step towards the revival and restoration of this American History. The company is all set to explore the necessary drill rig needed to reach a depth of 65 – 75ft. The goal is to punch a 4-inch hole through to the old workings at the 67 foot level, and descending LED equipped cameras for further inspection and confirmation. They might use tracked and tethered bots with mounted GoPros too, for exploring a few hundred feet in either direction from the drill hole.
It will allow Buyer Group to map out the underground workings with the intent of then matching it to the available historical maps.
Key Quote
On the GPR Results, Buyer Group Chief Executive Officer David A. Bryant commented: “Human eyes haven’t seen the inside of this mine since the fires of 1918! Together we can all be a part of witnessing American history being revived in real time. This is now the second time this season I have been amazed with testing results. First the XRF results and now this, we are thank-ful for the tremendous and consistent shareholder support that has made all of this possible.”
Traders Corner
BYRG stock is trading below the 20-Day and 50-Day Moving averages of $0.0052 and $0.0057 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0063.
